Bodman Statement on President Bush's Energy Speech

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"President Bush today offered creative solutions to improve efficiency and remove regulatory barriers that discourage investment and technological advances in energy production. His proposal to reduce uncertainty in the licensing process for new nuclear power plants by offering federal risk insurance is an innovative approach that will help expand the use of clean, safe and affordable nuclear power.

"The President's proposal to use closed military bases that had been used for industrial purposes in the past to build refineries will not only help to address an acute energy need, but will also bring good paying jobs and new sources of revenue to these communities. His proposal to clarify siting authority for LNG terminals will ensure that Americans have greater access to natural gas, which is a critical component of our energy supply.

"While there is no immediate answer to high energy costs, we must take action now to pursue functional solutions that will improve America's energy security for ourselves and for future generations. Congress has an important role to play in that effort, and I look forward to working with them to incorporate the President's proposals into comprehensive energy legislation that the President can sign into law before the end of the summer."